by PREMA Team | Jan 13, 2025 | VAT
Abu Dhabi: The Ministry of Finance announced on Friday that it is expanding the application of the reverse charge mechanism to include precious metals and stones among VAT-registered businesses in the UAE. The Ministry announced the issuance of Cabinet Decision No....
by PREMA Team | Dec 17, 2024 | VAT
he UAE has introduced a new system for tourists to receive VAT refunds on e-commerce retail purchases in the country. The Federal Tax Authority (FTA) has launched a new VAT refund system for e-commerce retail purchases for tourists during their stay in the...
by PREMA Team | Dec 9, 2024 | AML, VAT
The UAE has charged 15 individuals accused of tax crimes and money laundering. Dr. Hamad Saif Al Shamsi, Attorney-General of the UAE, ordered the referral of 15 individuals of various Arab nationalities to the criminal court, including some who are in custody and...
by PREMA Team | Nov 21, 2024 | VAT
VAT is an indirect tax levied on most goods and services supplied or acquired by businesses in the Kingdom, with certain exceptions. The Zakat, Tax and Customs Authority (ZATCA) has urged businesses subject to Value Added Tax (VAT), whose annual supplies of goods and...
by PREMA Team | Nov 7, 2024 | Corporate Tax, Other Tax, VAT
The UAE has offered a grace period to taxpayers to help them avoid fines and penalties resulting from tax records. The Federal Tax Authority (FTA) announced a new decision to support businesses in efficiently meeting their tax obligations, offering...
by Danissa Guotana | Oct 31, 2024 | Accounting, Business, Corporate Tax, VAT
The UAE has announced new laws to transform tax collection and record-keeping for businesses in the country. Under new rules, taxpayers in the UAE will be able to standardise and automating invoicing with new digital channels. The Ministry of Finance...
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